The directive is in accordance with section 89(1) of the Tier 4 Microfinance Institutions and Money Lenders Act, which states that the maximum interest rate that a money lender shall charge on the principal or the actual sum of money advanced as a loan to a borrower is two point eight percent (2.8%) per month or thirty-three point six percent (33.6) per annum.

Lumu’s proposal was met with many diverging views, as most opposition MPs maintained that the proposed bill was meant to weaken the opposition. 

The Democratic Party (DP) has supported the government's proposal to relocate Luzira Prison to Buikwe district in the greater...